For the benefit of clients,
the firm maintains a general contractors license for the
purposes of construction management. With many transactions,
particularly leases, the process moves forward between the
parties with agreements made as to fit-up costs, date of
delivery of the space, etc. All usually goes well until the
time the work is handed off to a general contractor. That
contractor, not being a party to the transaction, does not
have the same interests in the deal and may not be as focused
on the promises made and critical aspects of the lease.
Here is where a construction manager comes in. A construction
manager consults with the architect, helps the owner take bids
from the subcontractors, pulls the master permit and coordinates
the construction. A major benefit of this format is the owner
contracts directly with the subcontractors thereby controlling
costs and lien issues. The broker has a vested interest in
a successful transaction and construction management should
be a part of that.
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